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Austrian Economics, Market Process, and the EVA® Framework

Author

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  • Cachanosky Nicolás

    () (Department of Economics, Metropolitan State University of Denver, Campus Box 77, P.O. Box 173362, Denver, CO 80217, USA)

Abstract

In this paper I present a financial framework, known as Economic Value Added or EVA®, used to value firms and apply it to topics highlighted in the Austrian literature. In particular I contrast the market process emphasis in the Austrian literature with the neoclassical firm profit maximization and the role of Kirzner’s entrepreneurial alertness. Then I show how these micro topics can be aggregated into macro issues such as the Cantillon Effect, an aggregate average period of production, and the impact of country risk into value creation.

Suggested Citation

  • Cachanosky Nicolás, 2017. "Austrian Economics, Market Process, and the EVA® Framework," Journal of Business Valuation and Economic Loss Analysis, De Gruyter, vol. 12(s1), pages 1-9, July.
  • Handle: RePEc:bpj:jbvela:v:12:y:2017:i:s1:p:9:n:2
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    1. repec:eee:jeborg:v:150:y:2018:i:c:p:423-431 is not listed on IDEAS

    More about this item

    Keywords

    market process; economic value added; EVA®; financial economics; microfoundations;

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F31 - International Economics - - International Finance - - - Foreign Exchange

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